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Hidden consequences

Tax advisers should warn clients who are company directors that if they lose a case in the FTT some nasty hidden consequences may be lurking around the corner if HMRC successfully makes an allegation of dishonesty against them.

Mr Nadhan Singh (Potiwal) is a person in point. In July 2008 Mr Singh gave evidence before the VAT & Duties Tribunal on behalf of his company Red 12 Trading Ltd in an appeal against HMRC’s rejection of a claim for repayment of £2.6m input tax. In the usual way HMRC contended that the multiple transactions giving rise to the claim had been contrived for the purposes of a MTIC fraud. Mr Singh disputed the allegation but his evidence was not favourably received. The tribunal described Mr Singh as an intelligent...

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